Needham & Company LLC Forecasts Strong Price Appreciation for Unity Software (NYSE:U) Stock

Unity Software (NYSE:U) had its price target upped by Needham & Company LLC from $23.00 to $26.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 15.76% from the stock’s current price.

Several other brokerages have also recently commented on U. Stifel Nicolaus raised their target price on Unity Software from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Benchmark decreased their target price on Unity Software from $16.00 to $10.00 and set a “sell” rating for the company in a research report on Friday, August 9th. UBS Group raised their target price on Unity Software from $15.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group decreased their target price on Unity Software from $26.00 to $22.50 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, Wells Fargo & Company initiated coverage on Unity Software in a report on Monday, October 28th. They set an “equal weight” rating and a $20.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.96.

Unity Software Stock Performance

U opened at $22.46 on Friday. The firm has a market cap of $8.91 billion, a PE ratio of -10.96 and a beta of 2.29. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $20.22 and a 200-day simple moving average of $18.97. Unity Software has a fifty-two week low of $13.90 and a fifty-two week high of $43.54.

Unity Software (NYSE:U) last issued its earnings results on Thursday, August 8th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.12. The business had revenue of $449.30 million during the quarter, compared to analysts’ expectations of $438.37 million. Unity Software had a negative return on equity of 8.78% and a negative net margin of 38.52%. Unity Software’s revenue was down 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) earnings per share. As a group, equities analysts predict that Unity Software will post -1.86 EPS for the current fiscal year.

Insider Buying and Selling at Unity Software

In other Unity Software news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $20.59, for a total transaction of $5,147,500.00. Following the sale, the director now directly owns 8,201,851 shares of the company’s stock, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David Helgason sold 250,000 shares of Unity Software stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $20.59, for a total value of $5,147,500.00. Following the completion of the transaction, the director now owns 8,201,851 shares in the company, valued at approximately $168,876,112.09. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Felix The sold 30,000 shares of Unity Software stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $17.89, for a total transaction of $536,700.00. Following the completion of the transaction, the senior vice president now owns 423,679 shares of the company’s stock, valued at $7,579,617.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 281,600 shares of company stock valued at $5,714,000. 6.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Unity Software by 295.3% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 12,398 shares of the company’s stock worth $331,000 after purchasing an additional 9,262 shares during the period. Empowered Funds LLC bought a new stake in shares of Unity Software in the 1st quarter valued at about $331,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Unity Software in the 1st quarter valued at about $3,878,000. Atomi Financial Group Inc. lifted its position in Unity Software by 14.7% during the first quarter. Atomi Financial Group Inc. now owns 8,972 shares of the company’s stock worth $240,000 after acquiring an additional 1,147 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Unity Software by 9.6% in the first quarter. Russell Investments Group Ltd. now owns 12,752 shares of the company’s stock valued at $340,000 after buying an additional 1,113 shares in the last quarter. Institutional investors own 73.46% of the company’s stock.

Unity Software Company Profile

Unity Software Inc operates a real-time 3D development platform. Its platform provides software solutions to create, run, and monetize interactive, real-time 2D and 3D content for mobile phones, tablets, PCs, consoles, and augmented and virtual reality devices. The company offers its solutions directly through its online store and field sales operations in North America, Denmark, Finland, the United Kingdom, Germany, Japan, China, Singapore, and South Korea, as well as indirectly through independent distributors and resellers worldwide.